Naples Florida Realtor

October 2022 Real Estate Market Statistics for Naples, Florida

Neither extreme weather nor global economic stresses have been able to dim the sparkle of Naples and Southwest Florida. Homes and condominiums in this picturesque city and across the region have not only maintained their value, but in the past year their worth has increased by double digits percentages. This comes as no surprise. The ever-increasing home values are a testament to the allure of the region’s sugar-soft white sand beaches, warm Gulf waters, manicured golf greens, and plethora of fine dining, shopping, and lively entertainment. Who could ask for anything more? If you’re thinking about setting down roots in a luxury home in Naples, or in a stunning property elsewhere in lovely Southwest Florida, take a look at these real estate market statistics for Naples and the surrounding region, and see the value for yourself!

 

Key October Market Statistics for Naples and Southwest Florida

Here’s what you need to know about homes for sale in Naples, and the dynamics of the real estate market in the city and around Southwest Florida for October 2022:

  • The median sale price for single-family homes in Naples continued to rise, increasing by 23 percent from October 2021 to October 2022.
  • The median sale price for condominiums in Naples rose to $439,000 in October 2022—nearly a 19 percent increase since the same time last year.
  • Across Collier County the median sale price for single-family homes increased from $650,000 in October 2021 to $800,000 in October 2022, according to data from Florida Gulf Coast University (FGCU).
  • Coastal counties saw a total of 1,271 single-family homes sold in October 2022, which was a 14 percent decline from the previous month, FGCU reported. The decrease may have likely been due to the effects of Hurricane Ian.
  • Inventory for single-family homes and condominiums in Naples increased by 73 percent in October 2022, which means there’s never been a better time to buy in Naples. With more residences to choose from, you’re sure to discover your dream home—and you may find that you have more leverage when negotiating a deal with sellers.

Other Significant Statistics That May Mean Now is a Great Time to Buy in Naples

Here are some key economic indicators that point to a healthy and robust economy in Naples and Southwest Florida:

  • Tourist tax revenues in Collier County totaled $4.9 million in August 2022, an increase of 10 percent from $4.4 million in the previous month, per data from FGCU.
  • Seasonally-adjusted tourist tax revenues in Lee County amounted to $6.5 million in August 2022, which was a 3 percent increase from the previous month ($6.3 million), and 6 percent higher than the June 2021 measure.
  • Collier County’s seasonally-adjusted taxable sales totaled $1.192 billion in September 2022, which was down 2 percent from the same time last year, and virtually unchanged from the previous month.
  • Seasonally-adjusted taxable sales in Lee County totaled $1.767 billion in September 2022, a decline of 6 percent from September 2021.
  • In the Southwest Florida region seasonally-adjusted taxable sales were $3.338 billion in September 2022, which was a decrease of 4 percent from the same time last year, according to FGCU data.
  • Unemployment in Collier County was 3.0 percent in October 2022, which is 0.5 percent lower than October 2021.
  • The seasonally-adjusted unemployment rate in Lee County was 4.3 percent in October 2022, which was unchanged from the same time last year.
  • The Southwest Florida region’s seasonally-adjusted unemployment rate increased to 3.9 percent in October 2022, but was still 0.2 percent down from October 2021.
  • Airport passenger traffic at RSW in September 2022 declined 7 percent from September 2021, while passenger activity at PGD in September 2022 dropped 11 percent since the same time last year. Traffic at SRQ in September 2022 saw a 20 percent decrease from August 2022, but was 1 percent higher than the same month last year. The decline in traffic across all three airports was very likely due to impacts associated with Hurricane Ian.

 

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